because the cryptocurrency in my country is not used for payment, so there is no special effect on crypto even though the economy is declining due to this pandemic, but in fact trading on my country's local exchange is still the same, there is no drastic decline.
Well for countries who don't have a good acceptance of cryptocurrency there will be almost no changes at all because it is not well entertained by many people in their so the changes will not even be visible enough to see but for countries who do have high acceptance and usage of cryptocurrency, the buying of crypto might be reduce due to the recession happening and many people might cashout their assets and turn it back to fiat because some people will lose their jobs because demand in the country will be greatly reduced, depending on the usage of the country, the more a country is active in cryptocurrency the more it will have an effect to cryptocurrency and its market. 
Topic: State influence for cryptocurrency - page 4. (Read 817 times)
because the cryptocurrency in my country is not used for payment, so there is no special effect on crypto even though the economy is declining due to this pandemic, but in fact trading on my country's local exchange is still the same, there is no drastic decline.
What impact will it have on cryptocurrency in a country torn by recession in the COVID19 pandemic?
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country
Reduced economic activity cant have positive influence on any commodity or asset. But the way governments will fight recession, so with printing money. That will have positive influence on Bitcoin. Overall we might see that Bitcoin purchase power will not increase much, but fiat currency purchase power will. So that way Bitcoin price in fiat will increase, but in reality will stay stable.
in your opinion, it could affect bitcoin to be stable and even soaring like that?
This means that it all depends on the government how to respond in case of a recession in their country
What impact will it have on cryptocurrency in a country torn by recession in the COVID19 pandemic?
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country
Reduced economic activity cant have positive influence on any commodity or asset. But the way governments will fight recession, so with printing money. That will have positive influence on Bitcoin. Overall we might see that Bitcoin purchase power will not increase much, but fiat currency purchase power will. So that way Bitcoin price in fiat will increase, but in reality will stay stable.
When an economic downturn occurs, cash flow is stopped circulating in the market and related manufacturing and services industries are affected depending on specific circumstances.
Cryptocurrencies in a pandemic are a solution for people to limit their cash, helping to prevent a pandemic.
Cryptocurrencies are just a payment solution and they cannot help rebuild the economy. We can only track money movements more easily and gauge movements through cryptocurrencies.
If a country collapsed, then cryptocurrency would be a good solution for the people of that country. A concrete example is that Venezuelans use Bitcoin better than Bolivars.
Cryptocurrencies in a pandemic are a solution for people to limit their cash, helping to prevent a pandemic.
Cryptocurrencies are just a payment solution and they cannot help rebuild the economy. We can only track money movements more easily and gauge movements through cryptocurrencies.
If a country collapsed, then cryptocurrency would be a good solution for the people of that country. A concrete example is that Venezuelans use Bitcoin better than Bolivars.
If the example that you say like Venezuela uses bitcoin better than their own currency will not cause it to worsen like inflation in their country.
if that didn't happen then their country was extraordinary
When there's a recession, the major effect is on the traditional market and I think there's only a little to no effect on crypto depending on how popular crypto is on a certain country being affected. I mean most of the people are still dependent on the central authorities even with this kind of problem since only a few knew about crypto. Unless the recession is getting out of hand and is already causing a big problem, then people will find a solution or an escape, and crypto can be one of that. However, crypto should not always be seen as the solution to every problem the economy faces.
The last noticeable recession was the 2008-2009 one (the consequences were felt until up to 2012 here in Europe). The data about Bitcoin from that period of time is extremely untrustworthy because it was a new tech almost nobody heard about, so any little growth at the time could actually be the effect of new people joining the Bitcoin market.
In my view, in case of a recession Bitcoin will have a lot of volatility. People wouldn't know if it's a credible investment or not.. The market still barely handles news that are not even that important to its future; a financial collapse could trigger volatility similar to the one we had in 2012-2015.
In my view, in case of a recession Bitcoin will have a lot of volatility. People wouldn't know if it's a credible investment or not.. The market still barely handles news that are not even that important to its future; a financial collapse could trigger volatility similar to the one we had in 2012-2015.
When an economic downturn occurs, cash flow is stopped circulating in the market and related manufacturing and services industries are affected depending on specific circumstances.
Cryptocurrencies in a pandemic are a solution for people to limit their cash, helping to prevent a pandemic.
Cryptocurrencies are just a payment solution and they cannot help rebuild the economy. We can only track money movements more easily and gauge movements through cryptocurrencies.
If a country collapsed, then cryptocurrency would be a good solution for the people of that country. A concrete example is that Venezuelans use Bitcoin better than Bolivars.
Cryptocurrencies in a pandemic are a solution for people to limit their cash, helping to prevent a pandemic.
Cryptocurrencies are just a payment solution and they cannot help rebuild the economy. We can only track money movements more easily and gauge movements through cryptocurrencies.
If a country collapsed, then cryptocurrency would be a good solution for the people of that country. A concrete example is that Venezuelans use Bitcoin better than Bolivars.
It might have a slight uptick but longterm recession will turn a crypto market bear just like other markets.
Cryptocurrency don't present like other market from the pumps and dumps I have seen with no adequate reason. Maybe in the time of recession or longterm recession, investors might run into bitcoin because they see it is safe and decentralized. It might be the case of bull than bear at such time.
There has been a lot of news stating that people are moving their money to crypto assets or assets in general as some kind of safe haven away from their fiat currency which is vulnerable to inflation. But the thing is only a few people can do this, what I mean about that is only a few people who are able to afford it can do that kind of thing since if a recession is affecting them most people are looking to liquidate their assets right now as they need the money more. So when it comes to a recession you the most obvious affect it will do is the markets will go down as people starts to liquidate them for money.
What impact will it have on cryptocurrency in a country torn by recession in the COVID19 pandemic?
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country
In that case, the value and adoption of cryptocurrency, both will increase! A country is getting into recession means, their economy and current, both are de-valued! So their citizens might hover over cryptocurrency and precious metals like Gold or Silver to safe guard the value of their monetary asets.
We are already seeing such trend among the few corporates where they are keping bitcoin as a percentage of their cash reserve. The same route can be adopted by the commoners!
The actions of Central governments all over the world means they want to spend their way out of recession and this is good for Crypto because some of these money will find their way into Crypto. Just look at US and the way the Airdrop money has helped Crypto. Crypto is not recession proof but what would determine its performance in recession depends on the policies of these respective government
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thanks for the answer you gave, it means that there is a recession in developed countries, for example, what you say like the US will not change their legality of cryptocurrency right. this is so amazing
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thanks for the answer you gave, it means that there is a recession in developed countries, for example, what you say like the US will not change their legality of cryptocurrency right. this is so amazing
OP, no impact. You cannot, SHOULD NOT, expect Bitcoin to be "the savior". BUT, it's always better to save some of your monthly salary by HODLing Bitcoin in case your country's government loses control of the monetary system.
I don't call bitcoin a savior when there is a recession in a country, I just want to know for sure that every country that is plunged into a recession must have a different impact for cryptocurrency at this time
Not much since most people aren't really dependent on cryptocurrencies from the get-go, and some nations are just recognizing the possible help of bitcoin just now. Most people who are riddled by recession and other ill-effects on the economy caused by the pandemic would likely not meddle with other investment assets, and would focus their money on keeping necessities and other important items in check instead. Only a handful of citizens in this trying times would have the luxury to buy crypto and ride it as their hedge against inflation, and those lucky people are the ones that are directly influenced by cryptocurrencies and nothing more.
OP, no impact. You cannot, SHOULD NOT, expect Bitcoin to be "the savior". BUT, it's always better to save some of your monthly salary by HODLing Bitcoin in case your country's government loses control of the monetary system.
My country has been eating recession like small chops and courtesy-of and thanks-too the government, no blames on covid-19 for the recession, it has been happening before for the virus lockdown, everything is false in my government, even false covid-19 reports,
I have learnt/familiarized-to differentiate bitcoin from crypto-coin, and if covid-19 caused any recession then Bitcoin did not feel it, there is one un-mistakable reason recession don't affect Bitcoin and crypto-coin even OP should have known. Read replies.
I have learnt/familiarized-to differentiate bitcoin from crypto-coin, and if covid-19 caused any recession then Bitcoin did not feel it, there is one un-mistakable reason recession don't affect Bitcoin and crypto-coin even OP should have known. Read replies.
As far as I know, I do not think cryptocurrency is affected by recession in my country. I can tell because my country is a shithole full of corrupt government officials and I always check the prices of bitcoin in my country. To be fair, the value of our currency is stable and the only thing that a state can have influence on cryptocurrency is that when it intervenes which is by far not happening in my country yet. And I am happy that they haven't intervened yet.
I don't think just one single government from a single country intervening such as banning bitcoin won't have much of an impact in a country. If it did have, it is going to be a short term impact, after which the prices should recover. Remember, bitcoin is decentralized. No single government controls it. Lets say a country that has somewhat a little influence in bitcoin, bans the usage of it. We will see people from other countries are now panic selling because they are thinking that their government might ban it too. This is turn will cause a small price drop. But once everything goes back to normal and people realize that they are safe, the price will recover. 
As far as I know, I do not think cryptocurrency is affected by recession in my country. I can tell because my country is a shithole full of corrupt government officials and I always check the prices of bitcoin in my country. To be fair, the value of our currency is stable and the only thing that a state can have influence on cryptocurrency is that when it intervenes which is by far not happening in my country yet. And I am happy that they haven't intervened yet.
What impact will it have on cryptocurrency in a country torn by recession in the COVID19 pandemic?
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country
Cryptos are borderless so it won't have much effect due to the recession from a country but 2020 is the economic crash year of the world and surely it affected the cryptos growth by hindering it to certain range but it already crossed the stabilizing phase now in the process of bullish trend gradually.some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country
More to add, countries printed more money to tackle the pandemic which will cause inflation in the longer term means the price of bitcoin in terms of fiat will increase in the coming years more than we expected.
What impact will it have on cryptocurrency in a country torn by recession in the COVID19 pandemic?
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country
some developed countries have entered recession. I just want to know what impact it will have on cryptocurrencies in your recession-ridden country
Ultimately recessions are never good for any market. People tend to tighten up with their excess money. It might have a slight uptick but longterm recession will turn a crypto market bear just like other markets.
Yes of course! I think every country in the world had already suffered from this pandemic that it resulted to weak economies. Weak economies means lesser opportunities for people to strengthen their financial capability which also means they will most likely prioritize spending their hard earned money on the most basic necessities and essential needs rather than allocating some of it to invest in cryptocurrencies per se.
I think this COVID-19 pandemic will more likely hurt the crypto industry rather than contribute to its growth. Imho.
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